French gov't may swap Air France shares for KLM: report

LONDON (CBS.MW) -- Air France
AF, -6.36%
is in talks to take control of struggling Dutch airline KLM
KLM, +0.00%nl:00964
by having the French state swap part of its 54.4 percent equity holding in Air France for KLM shares, the French financial daily L'Agefi said, Reuters reported. KLM shareholders would end up with 15 percent of Air France, and the French government would still retain a 20 percent stake in Air France.

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